Injective ProtocolINJ

The coin of Injective, a blockchain built for trading apps and tokenised assets.

Rank #85Since October 2020

Price on 31 Oct 2026

C$10.04 +47.1% since 31 Jul 2026 · 85.9% below its all-time high

The short version

INJ pays fees, is staked and is burned in monthly buyback rounds on Injective, a finance-focused blockchain built with the Cosmos SDK that added Ethereum-compatible contracts in Nov 2025. Injective Labs, co-founded by Eric Chen and Albert Chon in 2018 and incubated by Binance Labs, builds it. Three US exchange-traded fund applications for INJ were still pending at the end of Oct 2026. On 31 Oct 2026 one INJ cost C$10.04. From 31 Jul 2026 to 31 Oct 2026 its price changed +47.1% in Canadian dollars, and it was 85.9% below its all-time high of C$71.11 set on 14 Mar 2024.^[1]

Checked 31 Oct 2026 · 11 sources · next update about 1 Dec 2026

Price, past year

Past year: high C$12.56 (21 Oct 2026) · low C$3.81 (9 Mar 2026) · -4.1%^[1]

Month-end prices (table)

Date	C$	US$
31 Oct 2026	C$10.18	US$7.29
30 Sep 2026	C$10.83	US$7.61
31 Aug 2026	C$6.91	US$4.98
31 Jul 2026	C$7.03	US$5.01
30 Jun 2026	C$6.70	US$4.72
31 May 2026	C$9.10	US$6.60
30 Apr 2026	C$4.72	US$3.47
31 Mar 2026	C$3.97	US$2.85
28 Feb 2026	C$4.20	US$3.07
31 Jan 2026	C$5.39	US$4.00
31 Dec 2025	C$6.14	US$4.48
30 Nov 2025	C$8.34	US$5.95

Daily prices from CoinGecko; C$ converted at the Bank of Canada daily rate. The latest point is live when available. Past prices, not a forecast.

Choose what to see

Key facts

Price, 31 Oct 2026: C$10.04^[1]
3-month change: +47.1% in C$ (31 Jul 2026 to 31 Oct 2026)^[1]
From its high: 85.9% below its high of C$71.11 (14 Mar 2024)^[1]
Market rank: #85, market value about C$1.0B^[1]
Kind: Native coin · Injective (its own network); also an ERC-20 on Ethereum and other chains
Started: October 2020

Checks: the same 9 questions for every coin

Facts, not a rating

Can an admin key create new coins?NoNew INJ come only from protocol staking inflation; the Ethereum copy has no mint function^{[2, 3]}

Can anyone freeze or take coins from holders?NoNo freeze function found; GoPlus finds no blacklist or pause in the Ethereum copy^[3]

Can the token's contract code be changed?Not applicableRuns on its own blockchain; its rules change only through network upgrades

Is the supply capped?NoNo hard maximum; inflation mints INJ while fees and buybacks burn it^{[2, 4]}

Any scheduled unlocks in the next 12 months?NoAll allocations fully vested; no unlock events scheduled^[5]

Does a team or foundation hold over 10% of supply?Not disclosedInsiders received about 45% at launch, all vested; current holdings are not published^[5]

Do network fees reach coin holders?YesAll chain fees, US$3.38M a year, are burned, plus monthly buyback burns^{[6, 4]}

Main network hacked or halted in the past 2 years?NoNo exploit or halt of the Injective chain found^[7]

Is a regulator or court case targeting the coin itself?NoNo live regulator or court case found; US ETF filings are pending^{[7, 8]}

Each answer is a fact with a source, not a score. What each check means.

Who controls it

Run by: Injective Labs (CEO Eric Chen, co-founder Albert Chon) and the Injective Foundation^{[2, 7]}
Backers: Incubated by Binance Labs; investors include Pantera, Jump Crypto and Mark Cuban^[2]
Original allocation: Ecosystem 36%, team 20%, private sale 16.7%, community 10%, public token sale 9%, seed 6%, advisors 2%^[5]

Supply

In circulation: 100.00M INJ^[1]
Maximum supply: None set^[1]
Supply: About 100M INJ, all circulating^[2]
Unlocks: None; all allocations are fully vested^[5]
Burned: 7,271,032 INJ burned in Community BuyBack rounds to date; 25,200 INJ in the Sep 2026 round^[4]
New coins: Staking inflation mints new INJ; burns have kept supply near 100M^{[2, 4]}

Use and fees

Main use: Gas, staking and collateral on a chain for order-book trading, options and tokenised assets^[7]
Network fees: US$3.38M in the past year, all burned^[6]
Activity: TVL US$14.5M and stablecoins US$15.0M on 31 Oct 2026^[6]

Trading

Daily trading: About C$152.3M a day on average, 31 Jul 2026 to 31 Oct 2026^[1]
Daily turnover: Typically 15.80% of its market value changes hands each day^[1]
20-week average: 22.3% above its 20-week average price^[1]
1-year change: -7.1% in C$^[1]^[9]

History

Not a forecast

Coins ranked 51-200 at this point in past cycles (12-14 months after a Bitcoin peak), one year later: 4,050 cases, 612 coins

39% were higher a year later^[10]

Typical result: Median -25% after a year; 45% higher after two years
Lost half or more: 38% within a year
Against Bitcoin: 12% did better than Bitcoin over the year

History, not a forecast.

Red flags and things to watch

No red flags found

On 29 Oct 2026 Injective launched a native options platform settled in USDC, covering US stock indexes, gold, silver and oil.^[7]
On 30 Oct 2026 Canary amended its staked INJ ETF to list on Nasdaq as INJC; the Foundation plans to purchase up to US$15M of shares.^[7]
21Shares filed an amended S-1 for a spot INJ ETF (TINJ) on 18 Sep 2026; it was still pending on 31 Oct.^[11]

Checked: admin keys, contract upgrades, unlocks, insider supply, hacks, legal actions and claims against records.

Sources and dates

Facts as of 31 Oct 2026. Prices from CoinGecko in Canadian and US dollars; US$ figures without a C$ price are converted at 1.3976 C$ per US$.